16 May 2010
(MENAFN) The Chief Executive Officer at the Saudi Electricity Co (SEC) said that the company is planning to boost its output capacity by an additional 30,000 megawatts, Reuters reported.
Saudi Electricity, which produces around 40,000 megawatts, plans to spend $80 billion to add 20,000 megawatts through 2018, as well as $20 billion on independent power producer (IPP) projects to add more than 10,000 megawatts of capacity.
The firm is executing projects to meet the growing energy demand in the kingdom which is increasing at a rate of 8 percent a year.
The CEO said in the interview that he intends to create a number of power generation companies, and one transport company which will function as subsidiary firms for the company that will be established as part of a restructuring program.
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
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BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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